Krepp Sarah 4

What Happened
Sarah Krepp, Chief Human Resource Officer of Liquidia Corporation (LQDA), sold 16,261 shares in an open-market sale on March 13, 2026 at $38.00 per share, generating proceeds of $617,918. This was a sale (code S) reported on a Form 4 filed with the SEC on March 17, 2026.

Key Details

• Transaction date and price: 2026-03-13, 16,261 shares sold at $38.00 each.
• Proceeds: $617,918 (gross).
• Transaction type: Open-market sale (Form 4 code S).
• Filing timeliness: Form 4 filed 2026-03-17 — within the standard two business-day filing window.
• Shares owned following transaction: The Form 4 does not state a single total number of shares owned following the sale; it discloses beneficial ownership components (see footnote).
• Notable footnote (F1): Reporting person’s beneficial ownership includes unvested RSUs and ESPP shares — specifically 28,857 + 7,787 + 38,145 + 25,000 + 23,728 = 123,517 unvested RSUs from various grants and 5,749 shares acquired under the 2020 Employee Stock Purchase Plan; several RSU grants listed have not vested as of the Form 4 date.

Context

• Sales by insiders can be routine (for diversification, tax, or liquidity needs) and do not, by themselves, indicate a change in company outlook.
• This filing reports a straight sale of existing shares; there is no indication in the Form 4 of option exercises, gifts, or a 10b5-1 plan attached to this transaction.